Some key Papua New Guinea state assets, including the site of Port Moresby’s old port, are being readied for redevelopment, with private sector investment being sought. The move is being guided by a new investment strategy from state holding company, Kumul Consolidated Holdings.
Investment and partnership opportunities were a focus at this year’s 2023 Business Advantage Papua New Guinea Investment Conference in Brisbane, with numbers exceeding pre-COVID levels.
With a new strategy to manage Papua New Guinea’s foreign exchange shortages expected soon, the Bank of Papua New Guinea’s Acting Governor, Elizabeth Genia, has moved to reassure business leaders that a devaluation of the country’s currency is not on the cards.
Papua New Guinea’s Mid-Year Economic and Fiscal Outlook shows inflation slowing, Airbus wins race to replace Air Niugini fleet, while Securities Commission revokes Melanesian Trustee Services Limited’s trustee license. Your business news in brief.
New Partner at KPMG PNG, CTSL announces new Chair and board, the National Agricultural Research Institute has a new Director-General, new directors at FinCorp, and Mayur Resources’ cement project gets its own CEO.
In direct response to the ongoing disruption of fuel supplies in Papua New Guinea, Petroleum Minister Kerenga Kua has declared an extraordinary 30-day State of Emergency.
Energy regulator announces an increase in power prices to support the rehabilitation of PNG Power, Nambawan Super threatens to lock out its government tenants and Wafi-Golpu negotations continue. Your business news in a nutshell.
A new Chairman for People’s Micro Bank and a new head of comms at Kina Bank.
Kumul Petroleum’s plan to manufacture large-scale infrastructure components for major resources projects in Papua New Guinea has taken a major step forward, following the signing of construction contracts for a US$100 million (K358 million) fabrication facility outside Port Moresby.
The recent visit by Indonesian President Joko Widodo to Papua New Guinea is a sign of increased interest in boosting the trade relationship with PNG’s closest neighbour. Business Advantage PNG examines the business case.